LYB vs WING: Correlation
Measured on weekly returns over the past three years, LyondellBasell (LYB) and Wingstop Inc. (WING) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYB and WING?
Across a 3-year window, the weekly returns of LYB and WING correlate at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.30) than the 3-year average (-0.17). Stretching to 5 years gives -0.10, with an annualized covariance of -316.8 %².
By 3-year correlation, WING places #28 of the 36 assets tracked against LYB. Their recent paths diverged sharply: over the last 12 months LYB outperformed by 86.4 percentage points (+19.1% for LYB against -67.3% for WING). One caveat on sizing: WING is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
LYB vs WING: side by side
| LYB (LyondellBasell) | WING (Wingstop Inc.) | |
|---|---|---|
| 1-year return | +19.1% | -67.3% |
| 5-year return | -12.8% | -31.4% |
| Volatility (ann.) | 33.7% | 55.1% |
| Beta vs S&P 500 | 0.42 | 1.29 |
| Max drawdown (3Y) | -55.4% | -74.0% |
| Market cap | $20.4B | $3.0B |
| P/E (trailing) | – | 26.5 |
| Dividend yield | 6.58% | 1.07% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | LYB | WING |
|---|---|---|
| 2022 | -1.0% | -17.1% |
| 2023 | +20.7% | +87.3% |
| 2024 | -17.4% | +11.1% |
| 2025 | -36.0% | -15.7% |
| 2026 | +50.5% | -53.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYB and WING good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between LYB and WING?
As of 2026-08-27, the correlation of weekly returns between LYB and WING is -0.17 over 3 years, -0.30 over 1 year and -0.10 over 5 years.
Is WING a good diversifier for LYB?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lyb-vs-wing.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lyb-vs-wing/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LYB correlations · WING correlations
